Meesho, Indian E-Commerce Startup, Prepares for $606 Million IPO
Meesho, an Indian e-commerce company that rivals Amazon and Flipkart, is gearing up for a significant IPO that is set to raise approximately $606 million. The IPO will include token sell-downs from early investors, but notable names such as SoftBank and Prosus will not be selling any shares. This move signals strong investor confidence in India’s thriving online retail market, especially at a time when tech shareholders worldwide have been cashing out during listings.
The ten-year-old startup is planning to price its shares at ₹105–111 each, aiming to raise ₹42.50 billion (about $475 million) in fresh capital. The remaining funds will come from secondary sales, giving Meesho a post-issue valuation of around ₹501 billion (approximately $5.60 billion). Meesho was last valued at $5 billion in the private markets in 2021.
Meesho is on track to become the first major horizontal e-commerce platform in India to go public. Its rival, Flipkart, is expected to pursue an IPO next year, while Amazon is reportedly exploring the potential spin-off of its India operations for a future listing.
Early shareholders selling in the IPO include Elevation Capital, which is offloading just over 4% of its stake, Peak XV Partners selling around 3%, and Y Combinator trimming about 14%. However, larger backers like SoftBank, Prosus, and Fidelity are not selling any shares.
Founded in 2015, Meesho initially started as a social commerce platform targeting first-time online shoppers through WhatsApp. It has since evolved into a full-fledged marketplace, catering to India’s price-sensitive consumers and small merchants with a low-cost model. Meesho primarily earns revenue from logistics fees, advertising, and other services, while also charging commissions on products sold through its Meesho Mall channel.
Meesho reported revenue from operations of ₹55.78 billion (about $624.0 million) for the six months ended September 30, with a net merchandise value of ₹191.94 billion (roughly $2.15 billion). Despite the growth in revenue, Meesho’s losses widened, with a restated loss before tax of ₹4.33 billion (around $48.4 million) for the September 2025 half-year.
With 234.20 million transacting users and 706,471 annual transacting sellers in the last 12 months, Meesho has established a strong presence in the Indian e-commerce market. The company also leverages a network of over 50,000 active content creators for product discovery.
The IPO is expected to open for public subscription on December 3, with the anchor book scheduled for December 2. Qualified institutional buyers will have access to 75% of the offer, while retail investors and non-institutional investors will have 10% and 15%, respectively.
Meesho’s IPO not only aims to raise capital but also improve its ability to attract talent and strengthen confidence in its ecosystem. According to CFO Dhiresh Bansal, a public listing enhances the company’s brand with job candidates and reinforces governance standards for consumers, sellers, and logistics partners.
Stay tuned for more updates as Meesho embarks on its IPO journey in the Indian e-commerce landscape.
